#57 Noah Healy | The pitfalls of current markets and the potential of coordinated discovery markets
Noah Healy discusses the dangers and limitations of current markets, his early interest in math and computation, and the challenges facing commodity markets. He explores the impact of AI and algorithmic trading, market stability issues, and the role of middlemen. Healy introduces coordinated discovery markets and the administrator class's influence on industries, highlighting the challenges of integrating technology into society and the fundamental relationship between math, computation, and society.
Key Points
- Markets have become increasingly dangerous and less useful due to the rise of computational trading, which can create artificial booms and crashes.
- The middlemen in commodity markets have become disproportionately powerful, leading to a system where producers struggle despite increased productivity.
- A shift from a two-player buyer-seller market to a three-player producer-consumer-negotiator model could help stabilize markets and make production valuable again.
About Noah Healy
Links: https://www.linkedin.com/in/noah-healy/
Bio
When I look at the common thread that runs through all of my professional experiences, it is clear that I love to combine mathematics with technology to produce game-changing solutions. My inspiration came from my formal education, work experience and the breakthrough innovations developed by Alan Turing (and Frege and Church before him). Turing imagined machines with amazing computational power and ultimately brought them to life. His innovations tipped the scales of WWII and set the stage for the information revolution – of which I am an active part.
Early in my career, I used computational mathematics and software development capabilities to develop automations that boosted internal productivity, drove client efficiencies and improved regulatory compliance. Most recently I founded Coordisc and developed CDM, a technology product that has the potential to completely reorder the global financial system. CDM establishes a better exchange market for commodities by conducting all trades at market-clearing prices with radically improved price discovery, lower total cost of transactions and the elimination hedging needs. Only a fraction of current tradeflow can get this product off the ground and prove its power. From there, CDM can be scaled rapidly.
It is not lost on me that I have an enormous responsibility to produce algorithmic technology products that drive results, but also protect ethics and morality. One does not need to look beyond recent financial crises or their Facebook feeds to see that our rush for more powerful technology has eroded our civic, political, cultural and societal systems. I view myself as an “algorithmist with a conscience” and use tools such as game theory to design products ethically.
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Transcript
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